Performing any repair to your roof can be an expensive endeavor, so to many homeowners looking to sell their home, the temptation to sell “as-is” can be appealing. After all, getting a home ready to sell is stressful enough without adding more hassle. If you have roof damage or a roof leak, it may be evident that you’ll need to coordinate roof repair services before you put your home on the market. Unfortunately, the answer isn’t always straightforward when it comes to roof repairs.
Will replacing those shingles factor into the home sale? Do homebuyers care about that moss? Do you need to repair or replace the 20-year-old roof, or can you sell as-is?
DO ROOF REPAIRS MATTER WHEN YOU’RE SELLING A HOME?
A roof in need of significant repairs can be a costly fix. It isn’t the most exciting thing for a homeowner to spend money on, especially if they’re already daydreaming about living under a new roof! Significant roof repairs can cost thousands of dollars, so roofing quickly becomes a negotiating point in a home sale. Savvy sellers know that buyers will expect to pay less if they don’t repair their roof before selling their home. But, unlike other home renovation projects, which earn back significantly less when the home sells, repairing a roof earns back (on average) 61.7% for every dollar spent on roof repairs and 53.4% for every dollar spent on roof replacements.
Making the Decision
Our first piece of advice is to take stock of your home, the current real estate market, and nearby home sales. As with any primary system in your home (including electrical, plumbing, appliances, etc.), you should try and educate yourself on common roofing terms and roofing FAQs to understand what to expect. If you’re selling your home, you may already know that most real estate transactions require a home inspection report. This report will detail any potential issues with your roofing system. If the inspection reveals roof repairs may be necessary, you’ll need to ask yourself (and a local roofing contractor) more questions.
What’s the Roof Damage?
If your home inspection has revealed roof damage, consider reaching out to a local roofing company to help you identify the cost of roof repairs. Most roofing companies will offer free roof inspections and estimate roof repairs or a roof replacement. If your roof is near the end of its useful life, we highly recommend considering a roof replacement. If you don’t, you should expect additional time and consideration to be needed to discuss the level of repairs, market conditions, comparable sales, and how quickly you want to sell your home. Qualified local roofer companies should also chat about other ways to pay for a roof, like considering a roof insurance claim! Knowing the cost to repair or replace your roof will help you decide if you can afford to take action OR give you a better idea of what to adjust your sales price to during the real estate negotiation process.
Why You Should Consider Repairs
Spending some money on your roof repairs will, more than likely, help your home sell faster. Well-maintained homes have the potential to sell quickly; they show better during home tours, and it’s one less concern for any potential home buyer. If the useful life of your roof comes into question while you’re selling your home, paying a roofing expert to make repairs can ease any doubts about the lifespan of the roof before it comes up in negotiation.
Why You Should Sell As-Is
If you can’t afford the repairs or don’t want to take the extra time, repairing your roof before a home sale is not required. However, you should be aware that it could impact the final sale price for your property. That’s where insight into the pace of the local real estate market and nearby sales will come in handy. The Real Estate News & Analysis section of Redfin is a great place to find this information. If you’re lucky and located in a competitive market, some buyers might be more willing to overlook minor roofing issues without impacting the sale price. Similarly, selling as-is and pricing your home lower to compensate could work in your favor to attract multiple buyers.
Should You Repair or Replace your Roof?
Short answer, we think it’s a great move. It may seem like a significant investment, but there are plenty of options available to help with the cost of a roof replacement or roof repair that can help you – such as roof financing or roof insurance claims. Working with an experienced real estate agent and a reputable roofing contractor can help you determine if you should.
If you’re in Charlotte, NC – check out our reviews on HomeKeepr for real-estate transaction roofing. We have over 250+ recommendations from real estate agencies like Keller Williams, eXp Realty, and more!